Question
In: Accounting
Sheridan Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Sheridan Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.
|
Date |
Transaction |
Quantity |
Price/Cost |
|||
| 1/1 | Beginning inventory | 1,700 | $15 | |||
| 2/4 | Purchase | 2,700 | 22 | |||
| 2/20 | Sale | 3,200 | 37 | |||
| 4/2 | Purchase | 3,700 | 28 | |||
| 11/4 | Sale | 2,900 | 40 |
Correct answer iconYour answer is correct.
Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
| Average-cost per unit |
$ |
eTextbook and Media
New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is partially correct.
Compute cost of goods sold, assuming Sheridan uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.)
| Cost of goods sold | ||||
| (a) | Periodic system, FIFO cost flow |
$ |
||
| (b) | Perpetual system, FIFO cost flow |
$ |
||
| (c) | Periodic system, LIFO cost flow |
$ |
||
| (d) | Perpetual system, LIFO cost flow |
$ |
||
| (e) | Periodic system, weighted-average cost flow |
$ |
||
| (f) | Perpetual system, moving-average cost flow |
$ |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Concord Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Concord Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
(b.) Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods sold
(a)
Periodic system, FIFO cost...
Swifty Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Swifty Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,300
$14
2/4
Purchase
2,300
21
2/20
Sale
2,800
34
4/2
Purchase
3,300
26
11/4
Sale
2,500
38
Compute cost of goods sold, assuming Swifty uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods sold
(a)
Periodic system, FIFO cost flow...
Oriole Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Oriole Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
3,000
$18
2/4
Purchase
4,000
27
2/20
Sale
4,500
44
4/2
Purchase
5,000
34
11/4
Sale
4,200
49
Compute cost of goods sold, assuming Oriole uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods
sold
(a)
Periodic system, FIFO cost
flow...
Windsor Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Windsor Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,800
$15
2/4
Purchase
2,800
22
2/20
Sale
3,300
37
4/2
Purchase
3,800
29
11/4
Sale
3,000
41
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
:________
Compute Cost of Goods Sold:
cost of goods sold
Periodic system, FIFO cost flow
$
Perpetual system, FIFO Cost flow
$...
Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Ehlo Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
3,980
$18
2/4
Purchase
4,000
22
2/20
Sale
4,650
4/2
Purchase
5,250
24
7/17
Purchase
3,100
27
11/4
Sale
6,200
Compute cost of goods sold, assuming Ehlo uses:
Cost of goods sold
(a)
Periodic system, FIFO cost flow
$
(b)
Perpetual system, FIFO cost flow
$
(c)
Periodic system, LIFO cost flow
$
(d)
Perpetual system,...
Marigold Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Marigold Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,400
$14
2/4
Purchase
2,400
21
2/20
Sale
2,900
35
4/2
Purchase
3,400
27
11/4
Sale
2,600
38
(a)
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
Find all of these:
a) Periodic System, FIFO cost flow, (b) Perpetual System, FIFO
Cost Flow
(c) Periodic System, LIFO Cost Flow...
Windsor Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Windsor Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,800
$15
2/4
Purchase
2,800
22
2/20
Sale
3,300
37
4/2
Purchase
3,800
29
11/4
Sale
3,000
41
Compute cost of goods sold, assuming Windsor uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods sold
(a)
Periodic system, FIFO cost flow...
Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Wildhorse Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
2,800
$17
2/4
Purchase
3,800
26
2/20
Sale
4,300
43
4/2
Purchase
4,800
33
11/4
Sale
4,000
48
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
eTextbook and Media
Compute cost of goods sold, assuming Wildhorse uses:
(Round average cost per unit to 4 decimal places,...
Skysong Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Skysong Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,600
$14
2/4
Purchase
2,600
22
2/20
Sale
3,100
36
4/2
Purchase
3,600
28
11/4
Sale
2,800
40
(a)
Your answer is correct.
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
23.1282
SHOW SOLUTION
LINK TO TEXT
Attempts: 2 of 5 used
(b)
Compute cost of goods sold,...
wifty Company is a multiproduct firm. Presented below is information concerning one of its products, the...
wifty Company is a multiproduct firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,300
$14
2/4
Purchase
2,300
21
2/20
Sale
2,800
34
4/2
Purchase
3,300
26
11/4
Sale
2,500
38
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
eTextbook and Media
Compute cost of goods sold, assuming Swifty uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631...
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